SHARE MARKET NEWS UPDATE
Equity benchmarks continued downtrend amid consolidation as investors awaited assembly elections results due next week, tracking weak global cues. The 30-share BSE Sensex was down 63.46 points at 28776.33 and the 50-share NSE Nifty fell 20.05 points to 8879.70. Infosys, ITC, Asian Paints, Tata Steel, TCS, Kotak Mahindra Bank, Bosch and Bank of Baroda were under pressure while Reliance Industries, Tata Motors, Bharti Airtel, Axis Bank, Dr Reddy's Labs, Hindalco, Bharti Infratel, Grasim and Ultra Tech Cement were gainers. The Indian rupee slipped in the early trade on Friday. It has opened lower by 17 paise at 66.87 per dollar versus previous close of 66.70. Ashutosh Raina of HDFC Bank says the increasing probability of Federal Reserve rate hike in March has resulted in dollar index soaring above the 102 level. However, the USD-INR pair continues to defy the overall dollar strength, but the gains have been capped by strong intervention, he adds. He expects the pair to trade in a 66.70-67 dollar range today. The dollar gained to seven-week highs against a basket of currencies, after hawkish comments by a Federal Reserve official encouraged investors to expect a near-term interest rate hike. Asia markets traded lower today, following an overnight decline in US equities but the Dow Jones industrial average still closed a touch above the 21,000 level.
Shares of A2Z Infra Engineering gained 6.7 percent intraday as it has been awarded a contract worth USD 70,66,613.41. The contract has been awarded by Grid Solar and Energy Efficiency Project, Nepal Electricity Authority for design, supply, delivery, installation, testing and commissioning of 33/11 KV substations and 33 KV lines, for the contract price aggregating to USD 7,066,613.41.
Read more at: http://www.moneycontrol.com/news/local-markets/sensex-continues-to-fall-nifty-opens-below-8900-infosys-falls_8588641.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/local-markets/sensex-continues-to-fall-nifty-opens-below-8900-infosys-falls_8588641.html?utm_source=ref_article
No comments:
Post a Comment